Source - Alliance News

BSF Enterprise PLC on Thursday said it had successfully created proof-of-concept cultivated leather products for one of its partners.

The London-based biotech investor has received £90,000 in payments to date for the development of alternative leather samples.

In 2023, its subsidiary UK tissue engineering company, 3D-Bio Tissues Ltd, agreed to provide bioengineered samples of animal skin tissues to an unnamed ‘major multinational leather fashion company’ for £50,000.

Following a 60-week study, 3D-Bio achieved the technical and operational requirements of the deal and is currently working towards other similar projects.

BSF Managing Director Che Connon said: ‘We look forward to seeing these commercial and research partnerships continue to grow as we increase our production capacity to enable further development of cultivated skin on a larger scale to meet the growing demand.’

The company was also awarded £38,000 in grant funding from the UK government to embark on a project with the University of Northampton to create sustainable and ethical alternatives to leather.

BSF shares were down 9.6% to 5.65 pence each in London on Thursday morning.

Copyright 2024 Alliance News Ltd. All Rights Reserved.

Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account. AJ Bell logo

Related Charts

Bsf Enterprise PLC (BSFA)

-0.20p (-4.21%)
delayed 09:06AM